trillion debt ceiling, mr. obama says the nation will feel the hurt. >> if capital markets suddenly decide, you know what, the u.s. government doesn't pay its bills, so we're going to start pulling our money out, and the u.s. treasury has to start to raise interest rates in order to attract more money to pay off our bills, that means higher interest rates for businesses, that means higher interest rates for consumers. >> the international monetary fund, the imf, with its new head, christine legarde, says that financial markets would face a "severe shock. "if the u.s. does not move to increase its more borrowing authority. house speaker john boehner says the focus should be more on cutting our massive $14 trillion debt, not making a new borrowing deadline.